Warren Buffett Just Ripped Cryptocurrency to Shreds

Warren Buffett does not know when prices for Bitcoin and other cryptocurrencies will crash, but the billionaire investor said “with almost certainty” that things are going to take a turn for the worse.

“In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending,” Buffett said during a Wednesday morning interview on CNBC’s “Squawk Box.”

Buffett said he had no idea about how or when things would go bad for Bitcoin and other cryptocurrencies, however: “When it happens or how or anything else, I don’t know.”

Buffett gave the impression that he is mystified by, and wary of, cryptocurrencies. He said his company, Berkshire Hathaway, does not own any Bitcoin futures, nor is it taking a short position for Bitcoin or other cryptocurrencies. “I get into enough trouble with things I think I know something about,” Buffett said. “Why in the world should I take a long or short position in something I don’t know anything about?”